Get Paid Faster. Improve Your Cash Flow
Turn your unpaid invoices into immediate cash with Gold Track Logistics’s trusted factoring partnerships
Operating a trucking business is challenging. Waiting 30, 60, or even 90 days for an invoice to be paid can bring your operations to a halt. Steady cash flow is the difference between sinking and swimming—it’s essential for fuel, payroll, repairs, and taking on your next profitable load.
That’s why Gold Track Logistics has teamed up with professional, reliable factoring companies. We connect our clients with top-tier factoring services that can make all the difference in the way they do business.
How GTL Helps with Factoring
- Assistance in Selecting a Reliable Partner: We’ve already vetted the best factoring companies in the industry. We only recommend partners known for transparency, low rates, and excellent customer service.
- Finding the Right Fit: We help you find a factoring partner that matches your specific needs, whether you need recourse, non-recourse, or special rates for a new authority.
- Expert Support: We are your dispatching partner first. We’ll provide expert support, answer your questions, and help you navigate the process.
What is Freight Factoring?
Freight factoring (or truck factoring) is a financial service that allows carriers and owner-operators to sell their unpaid invoices to a third-party “factoring company” at a small discount.
In return, you get immediate cash—often within 24 hours of delivering a load—instead of waiting weeks or months to be paid by the shipper or broker. The factoring company then takes on the responsibility of collecting the payment from your customer.
The Benefits of Factoring for Trucking Companies
For many trucking companies, getting an immediate (though slightly discounted) payment is well worth it. It provides the funds you need to pay for overhead costs or even take on additional work.
Immediate Capital Upfront Why wait to get paid? Factoring gives you your money within 24 hours of completing a job. Use your capital now for fuel, repairs, and payroll, not a month from now.
A Reliable Source of Revenue Stop guessing when you’ll get paid. Factoring creates a predictable and reliable stream of income, making it easier to forecast, secure loans, and plan for business growth.
Reduced Administrative Burden Factoring companies often handle the accounts receivable process. This means they manage the invoicing and collections, saving you hours of administrative headaches and phone calls.
Reduced Risk of Non-Payment Depending on your agreement, the factoring company can take on the risk of a customer not paying. This protects your business from catastrophic losses due to unscrupulous or insolvent clients.
How Trucking Factoring Works: A Simple Process
Deliver Your Load: You haul a load as normal and send the signed Bill of Lading (BOL) and invoice to the factoring company.
Get Paid Immediately: The factoring company verifies the paperwork and advances you a large portion of the invoice (typically 90-98%) directly to your account.
The Factor Collects: The factoring company then collects the full payment from your customer (the broker or shipper).
Receive the Balance: Once the invoice is paid in full, the factoring company sends you the remaining balance, minus their small, pre-agreed-upon fee.
Key Factoring Terms You Should Know
Recourse vs. Non-Recourse Factoring
Recourse Factoring: In this agreement, you are required to buy back (or “recourse”) any invoices that your customer fails to pay. This option has lower fees because you retain the ultimate risk.
Non-Recourse Factoring: The factoring company assumes the risk of non-payment. If your customer fails to pay due to a qualifying reason (like bankruptcy), it is no longer your problem. This option has slightly higher fees, but it provides greater security.
We can help you decide which option is best for your business model.
Why Trust GTL with Your Factoring Needs?
There are many factors to consider, but here’s why carriers choose Gold Track Logistics to guide them.
We Protect Your Profits As your dispatch partner, our primary goal is your profitability. We’ll connect you with trusted partners who have transparent, low rates, not predatory fees.
We Understand the Industry We are logistics experts, not just salespeople. We know this industry inside and out and can identify the factoring partners who truly work for carriers, not against them.
Expert Support and Guidance We are on your side. We’ll answer your questions and make the process simple and easy to understand. We aren’t the factor; we are your advocate.
A Proven Track Record We have already helped numerous clients streamline their cash flow. We know what works, who to trust, and how to help you avoid common pitfalls.
Get Control of Your Cash Flow Today
Ready to stop waiting for your money and start building your business? Contact the Gold Track Logistics team. We’ll discuss your needs, answer your questions, and connect you with a factoring partner that’s right for you.
Call Us: 929-294-3216 Email Us: contact@goldtrack.co
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Contact
- 323 Parkville Ave, Brooklyn, NY 11230
- 1-929-294-3216
- contact@goldtrack.co